Lahore - The Hi-Tech Lubricants (HTLL), the soon to be a publically listed company, has introduced ergonomically attractive packaging for its leading machine lubricants brand-ZIC oil.
The Company plans to hold similar launch events in many other cities of the country before the start of its road shows for the upcoming IPO of the country, which shall be the first ever IPO from a company exclusively engaged in machinery lubricants supply and packaging .
The HTLL has initiated the launch campaign in the presence of representatives from its Principal Company, S.K Lubricants of Korea, and a cross section of Hi-Tech Lubricants dealer network.
In an effort to become a publically listed company, Hi-Tech Lubricants Limited has already furnished a prospectus for listing on the premier bourse of Pakistan for the issuance of about 29 million shares by mid of November 2015.
On the basis of approved prospectus by the regulatory authority, the company’s CEO Hassan Tahir said that the HTLL’s public listing shall be done in two phases- 1st the book building phase for Financial Institutions, Mutual Funds and High net-worth individuals, 2nd phase for the general public.
For the book building, he elaborated, the company shall offer 21.75 million shares and for general public, it shall offer 7.25 million shares. The public offering constitutes of 25 percent post IPO (Initial Public Offering) share capital of the company.
The company estimate’s to raise Rs 1,595 million at an expected price of Rs 55 per share from the IPO process.
The CEO of the company stated that whereas the overall objective of the introduction of the new packaging was to create an ease in the handling of the company’s fuel economy lubricants through attractively designed plastic containers, however the other reason was to deal with the issues of fake oil available in the market. He said that due to the growing demand for ZIC brand lubricants, it is important for the company to change its packaging designs after every 5-6 years so that we can counter the issue of the fake oil available in the market.
Side by side the new packaging , the company has also simplified its brands by introducing the lines of X3, X5,X7 and X9 brands in ZIC X series . The CEO stated that the new brand names would be easy to recall, pronounce and recognize.